Australia’s Sqware Peg secures share of US$50M Salesforce fund
- 27 July, 2017 12:26
Aussie Salesforce consulting partner, Sqware Peg, has been served a share of Salesforce Ventures’ US$50 million System Integrator (SI) Trailblazer Fund.
The customer relationship management (CRM) software vendor announced the US$50 million fund from Salesforce Ventures, the company's corporate investment group, in late May.
The SI Trailblazer Fund is targeted at the “next-generation of cloud consulting firms”, enabling them to accelerate their growth and drive greater customer success, according to Salesforce. It is also aimed at helping those cloud consulting companies build and scale their Salesforce services capabilities for the future.
The new funding will go toward Sqware Peg’s continued investment in “practical innovation” for Australian business, the company said.
Last year, Sqware Peg expanded its services to include a digital marketing and customer experience-focused division.
The funding will also assist Sqware Peg to further scale its Salesforce Einstein Analytics practice and continue to align with Salesforce’s innovation in new areas such as artificial intelligence with Salesforce Einstein.
“Investment in our people has been a major part of our success to date and the funds will enable Sqware Peg to invest in developing the talent of the future, to meet the growing demand for Salesforce services locally,” Sqware Peg managing director, Reid Meldrum, said.
“We look forward to making more new key hire announcements in the near future,” he said.
Sqware Peg was named as a Salesforce Platinum partner in the Asia Pacific region in May.
Another local Salesforce player to have received funding from the vendor under the SI Trailblazer Fund is Arxxus, with the Sydney-based company set to leverage the investment to further expand its services capacity in the mid-market sector and its expertise in public sector.
The investment fund was launched in tandem with Salesforce’s SI Trailblazer Alliance Initiative, which is aimed at providing consulting partners with resources and training to scale their businesses.
“Consulting firms play a pivotal role in the Salesforce ecosystem, implementing Salesforce solutions that meet the needs of customers of all sizes, industries and geographies,” Salesforce corporate development and ventures executive vice president, John Somorjai, said in May.
“This new fund will foster the next-generation of SIs and supercharge the growth of the Salesforce ecosystem," he said.